Shoppers are concerned about staying safe from COVID-19 and their financial health, which will affect their willingness to go back to department stores and...
Malls and other retailers are slowly beginning to reopen, but that doesn’t mean consumers are lining up to shop.
Shoppers aren’t just taking advantage of home delivery for items purchased online, though that is popular. The Shipt service, which offers delivery in as soon as an hour, has added more than 80,000 new shoppers, according to Target Chief Executive Brian Cornell, who spoke on a call with the media in conjunction with the update. These figures put that service on track to double the number of users by the end of April.
Though digital growth is going through the roof, Cornell says stores are at the center of the company’s strategy.Wells Fargo analysts say geography will be a big determining factor for which retailers see traffic when the doors open. Sensing the consumer trepidation, The Wall Street Journal reports that many businesses, like Best Buy Co Inc. BBY, +3.27% , Gap Inc. GPS, -2.81% and Macy’s Inc. M, +2.65% are waiting to reopen.
But Target, which sells everything from essentials to clothing and other items, says there’s been a slight increase in sales for things for the home quarter-to-date.“Management noted trends accelerated significantly around mid-April, which we believe was driven by the stimulus checks that started hitting individual accounts starting on April 13, driving pent-up demand in discretionary categories such as hardlines and home furnishings,” wrote JPMorgan analysts in a note.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Target sees 'Cyber Monday'-sized online sales boom as shoppers avoid trips to stores during pandemicTarget's CEO Brian Cornell said the retailer will pick up market share in categories like apparel and home as some of its competitors struggle or permanently close their doors.
Consulte Mais informação »
Target says same-store sales rose more than 7% so far in first quarter as digital sales doubleTarget's CEO Brian Cornell said he expects the retailer will pick up market share in categories like apparel and home as some of its competitors struggle or permanently close their doors.
Consulte Mais informação »
Coronavirus Lockdowns Slow Target’s RollTarget said sales from stores weakened significantly in late March and early April, while online sales surged, squeezing profits as shoppers grew increasingly reluctant to venture outside amid the coronavirus pandemic.
Consulte Mais informação »
Target sees 'Cyber Monday'-sized online sales boom as shoppers avoid trips to stores during pandemicTarget's CEO Brian Cornell said the retailer will pick up market share in categories like apparel and home as some of its competitors struggle or permanently close their doors.
Consulte Mais informação »
Target's online sales skyrocket as shoppers stock up from their homesA surge in online sales for Target Corp in March and April offset the bulk of damage done by coronavirus lockdowns to in-store sales, but its margins continue to suffer along with profit from higher costs, the retailer said on Thursday.
Consulte Mais informação »
Virginia doesn't plan to reopen before May 8, governor saysThe US coronavirus outbreak has altered daily life in almost every way. Here's the latest updates on US Covid-19 cases, deaths, reopening efforts, the government response, unemployment and more.
Consulte Mais informação »